Gallatin Point Capital LLC Acquires New Stake in James River Group Holdings, Ltd. (NASDAQ:JRVR)

Gallatin Point Capital LLC bought a new stake in James River Group Holdings, Ltd. (NASDAQ:JRVR - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 5,859,375 shares of the insurance provider's stock, valued at approximately $28,535,000. James River Group accounts for about 6.8% of Gallatin Point Capital LLC's portfolio, making the stock its 2nd biggest holding. Gallatin Point Capital LLC owned 15.49% of James River Group at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quantbot Technologies LP raised its holdings in James River Group by 24.8% during the fourth quarter. Quantbot Technologies LP now owns 12,556 shares of the insurance provider's stock worth $61,000 after purchasing an additional 2,498 shares in the last quarter. Intech Investment Management LLC acquired a new stake in shares of James River Group in the fourth quarter valued at $68,000. SG Americas Securities LLC boosted its stake in James River Group by 41.6% during the fourth quarter. SG Americas Securities LLC now owns 15,616 shares of the insurance provider's stock valued at $76,000 after buying an additional 4,586 shares in the last quarter. Raymond James Financial Inc. acquired a new position in James River Group during the fourth quarter worth about $84,000. Finally, Wells Fargo & Company MN raised its position in James River Group by 52.9% in the fourth quarter. Wells Fargo & Company MN now owns 22,026 shares of the insurance provider's stock worth $107,000 after acquiring an additional 7,625 shares in the last quarter. 95.21% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on JRVR shares. Keefe, Bruyette & Woods reduced their price objective on James River Group from $6.00 to $5.00 and set a "market perform" rating for the company in a research note on Thursday, March 13th. Citigroup restated a "hold" rating on shares of James River Group in a report on Tuesday, March 11th. StockNews.com cut shares of James River Group from a "hold" rating to a "sell" rating in a report on Wednesday, March 26th. Truist Financial lowered their price objective on shares of James River Group from $6.00 to $5.00 and set a "hold" rating on the stock in a research report on Tuesday, March 11th. Finally, Compass Point decreased their target price on James River Group from $7.75 to $6.25 and set a "buy" rating for the company in a research report on Monday, March 10th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $6.06.

James River Group Stock Up 2.6 %

Shares of NASDAQ JRVR traded up $0.11 during trading hours on Wednesday, hitting $4.40. The stock had a trading volume of 65,676 shares, compared to its average volume of 348,384. The company has a debt-to-equity ratio of 0.38, a quick ratio of 0.65 and a current ratio of 0.65. James River Group Holdings, Ltd. has a 52 week low of $3.00 and a 52 week high of $9.56. The firm's 50-day moving average price is $4.27 and its two-hundred day moving average price is $4.89. The company has a market capitalization of $200.83 million, a P/E ratio of -1.09 and a beta of 0.04.

James River Group (NASDAQ:JRVR - Get Free Report) last posted its quarterly earnings data on Monday, March 3rd. The insurance provider reported ($0.99) earnings per share for the quarter, missing the consensus estimate of ($0.33) by ($0.66). James River Group had a positive return on equity of 3.90% and a negative net margin of 20.84%. The business had revenue of $126.71 million for the quarter, compared to analyst estimates of $159.91 million. During the same period in the prior year, the firm posted $0.33 EPS. Analysts anticipate that James River Group Holdings, Ltd. will post -0.35 EPS for the current fiscal year.

James River Group Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Monday, March 10th were issued a $0.01 dividend. This represents a $0.04 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend was Monday, March 10th. James River Group's payout ratio is -1.38%.

James River Group Company Profile

James River Group Holdings, Ltd., through its subsidiaries, provides specialty insurance services. It operates through Excess and Surplus Lines, and Specialty Admitted Insurance segments. The Excess and Surplus Lines segment underwrites liability and property insurance in the United States Puerto Rice, and the United States Virgin Islands.